Spansion Inc. (NYSE:CODE) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.77%.
Spansion Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 18.18% to $0.26 in the quarter versus EPS of $0.22 in the year-earlier quarter.
Revenue: Decreased 16.42% to $195.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Spansion Inc. reported adjusted EPS income of $0.26 per share. By that measure, the company missed the mean analyst estimate of $0.26. It beat the average revenue estimate of $195.04 million.
Quoting Management: “We are very excited about the new products and business opportunities we can create with this acquisition,” said John Kispert, president and CEO of Spansion. “We will expand our embedded market leadership and support our customer base with a broader product line including Flash memory, microcontrollers, analog, mixed signal and system-on-chip solutions that will shape the future of electronics.”
Key Stats (on next page)…
Revenue increased 2.92% from $189.57 million in the previous quarter. EPS increased 766.67% from $0.03 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.35 to a profit $0.28. For the current year, the average estimate has moved down from a profit of $1.06 to a profit of $1.01 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)